Twitter has lost 50 of its top 100 advertisers since Elon Musk took over, report says

[Temeret]

Source: NPR

Half of Twitter's top 100 advertisers appear to no longer be advertising on the website. A report from Media Matters for America states that these 50 advertisers have spent almost $2 billion on Twitter ads since 2020 and more than $750 million just in 2022.

Seven additional advertisers have slowed their advertising to almost nothing, according to the report, which was published on Tuesday. These companies have paid Twitter more than $255 million since 2020.

Chevrolet, Chipotle Mexican Grill, Inc., Ford, Jeep, Kyndryl, Merck & Co. and Novartis AG all issued statements about halting Twitter ads or were reported and confirmed as doing so. The others ceased advertising on the platform for a "significant period of time following direct outreach, controversies, and warnings from media buyers."

The report wrote that even with these hits to advertising revenue, Twitter CEO Elon Musk has "continued his rash of brand unsafe actions — including amplifying conspiracy theories, unilaterally reinstating banned accounts such as that of former President Donald Trump, courting and engaging with far-right accounts, and instituting a haphazard verification scheme that allowed extremists and scammers to purchase a blue check."

Read more: https://www.npr.org/2022/11/25/1139180002/twitter-loses-50-top-advertisers-elon-musk

[Zambero]

1. 50 down, 50 to go

Now a safe haven for extremists. Let it devalue and collapse. Perhaps that would enable a rational CEO to take it on.

[Temeret]

2. And that was before Musk decided to bring back hate-speech accounts

It will get worse. The pressure must continue for those who stick around (Google and Apple, for instance).

[MLAA]

3. Any guess on how long it will be before Twitter's only advertiser will be the pillow guy?

[jmowreader]

8. Oh, that won't happen

There are lots of businesses catering to survivalists that will advertise there.

[moniss]

15. Along with

all of the phony supplements, magic erection pills, phony diets, gold scams, rip-off extended car warranties, rip-off on-line universities, over-priced health insurance policies that cover almost nothing, rip-off land deals, pump-n-dump stock scammers, rip-off "credit repair" scams, fortune tellers and the list goes on and on proving Barnum was correct.

[Hugh_Lebowski]

25. Yup!!! Good post

And guess what Elon, those shady companies don't have much money even when all put together, so good luck with that.

Twitter will also lose a lot of kids when their parents notice the twitter pages they visit are all full of ads for boner pills and scams and such and make them get off the platform.

[Rebl2]

4. Needs to lose all of them

[BComplex]

17. Shows that greed makes people extra stupid. The other 50% should have bailed

or their shareholders need to take them to the shed for a good spanking.

[bucolic_frolic]

5. Boy, they got rooked.

Who in their right mind would put up that kind of money for Twitter ads?

[dalton99a]

6. No worries

Link to tweet

[yardwork]

14. Good one!

[lark]

7. Hahahahahahahahahaha! Couldn't happen to a more deserving pod person.

Now, when will the rest flee?

[SWBTATTReg]

9. Wow. Such a major accomplishment by a billionaire, losing 1/2 of its advertising clients.

Impressive, for a 'billionaire', eh?

[Evolve Dammit]

10. Let's shoot for an even 100

[moonshinegnomie]

11. if you were a top advertiser on the twit

why would you take the chance of your ad appearing next to a racist tweet by some asshole musk let back on?
id would seem to me to be a breach of fiduciary duty for a public companies executive to take that risk

[Joinfortmill]

13. They all need to leave or face a boycott

[Upthevibe]

16. Temeret...........

Thanks for this info.

Elon Musk...I just can't.........

[Aussie105]

18. . . . and neither can a lot of advertisers.

Why dump your advertising dollars into a cesspool?
Your brand is going to come up smelling badly.

[onetexan]

28. Ir already was. Now its putrid.

[Temeret]

20. You're welcome

😜

[Stuart G]

19. Musk will learn the hard way that he made 2 mistakes buying "Twitter" & letting "Trump come back."

..Going bankrupt ain't in Musk's plan. ..Read Paragrph 4...

He is so sure that ..."HE KNOWS IT ALL, BUT MUSK KNOWS NOTHING AT ALL." (just like Trump)

[LudwigPastorius]

21. _

[Kennah]

22. Muskrat did that in 2.6 Scaramuccis

[Kashkakat v.2.0]

23. OK, thats a start. Now lets get 50 out of every 100 users to quit. THAT will persuade

the rest of the advertisers to re-think whether to be there or not. I truly do not understand the hold this thing has over so many otherwise intelligent people.

[sakabatou]

24. Elon, while Twitter is in flames: "This is fine."

[dembotoz]

26. the fake free insulin post and twitters slow reaction

probably had more to do with this than ethics.

[pwb]

27. Is it even secure to do business on twitter?

I wouldn't.

[nilram]

29. I'm blocking every advertiser I see on there.

Even a progressive magazine that I like.